The International Storytelling Center will spin its next yarn in bankruptcy court.
The Jonesborough, Tenn., center, home to the 37-year-old National Storytelling Festival, filed for Chapter 11 protection last week, owing creditors more than $3 million, according to papers filed with the U.S. Bankruptcy Court in nearby Greeneville.
Nestled in the Appalachian Mountains, the center is dedicated to the study and preservation of oral storytelling and is affiliated with the Library of Congress and the Smithsonian Institute.
The story of the centerbs financial troubles is a familiar tale to many businesses that filed for bankruptcy in recent years. [continued]